On Thursday, $GameStop(GME)$ , the king of retail retail hot concept leader, saw its stock soar nearly 50% to close at $46.55 per share, and it kept climbing over 16% after hours. The stock is up nearly 100% this week and up 160% year-to-date.
The YouTube channel "Roaring Kitty" is set to go live on Friday. As we all know, Growling Kitten is the account of Keith Gill, the "retail investor leader" , making his comeback on the platform after three years!
Remember when Gill and his crew sparked the "retail vs. Wall Street" revolution by encouraging a horde of retail investors to pile into GameStop? It was epic! Hedge funds that bet against GameStop had to scramble to cover their losses, and Melvin Capital lost nearly $3 billion!
In this war in which retail investors forced Wall Street institutions to empty, Gill became "the hero who cut the leek of Wall Street", but he vanished after that farewell livestream three years ago. Until last month, he simply reposted a "meme" on social media to make GameStop skyrocket again! He still has that magic touch!
Earlier this week, Gill showed off his E*Trade account on Reddit, revealing he's holding $140 million worth of GameStop stock and $120 million worth of options, for a total gain of $85.5 million.
There were rumors that E*Trade might kick him out, but Daniel Hawke, a former SEC market abuse chief, said the SEC probably won't touch him. "Gill used his fame and influence to get people to buy stocks. Unless there's deception, the rules don't allow the SEC to sue him," Hawke explained.
Market veterans agree, comparing Gill to Wall Street fund managers discussing stocks on TV.
Steve Sosnick, the chief strategist at Interactive Brokers, saw Gill as a "activist investor" who quietly buys shares and then goes public, hoping to lure other investors and boost the stock price.
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